TBH Global Asset Management LLC Sells 35 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

TBH Global Asset Management LLC cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 11.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 275 shares of the company’s stock after selling 35 shares during the period. TBH Global Asset Management LLC’s holdings in MercadoLibre were worth $432,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Wealthspire Advisors LLC boosted its holdings in shares of MercadoLibre by 1.8% in the fourth quarter. Wealthspire Advisors LLC now owns 391 shares of the company’s stock worth $614,000 after acquiring an additional 7 shares during the period. Independent Advisor Alliance grew its holdings in MercadoLibre by 1.2% during the 4th quarter. Independent Advisor Alliance now owns 586 shares of the company’s stock valued at $921,000 after buying an additional 7 shares in the last quarter. Gateway Advisory LLC increased its position in shares of MercadoLibre by 1.9% during the third quarter. Gateway Advisory LLC now owns 430 shares of the company’s stock valued at $545,000 after buying an additional 8 shares during the period. Contravisory Investment Management Inc. lifted its holdings in shares of MercadoLibre by 6.2% in the fourth quarter. Contravisory Investment Management Inc. now owns 138 shares of the company’s stock worth $217,000 after buying an additional 8 shares in the last quarter. Finally, Vestor Capital LLC boosted its position in shares of MercadoLibre by 10.0% in the fourth quarter. Vestor Capital LLC now owns 88 shares of the company’s stock valued at $138,000 after acquiring an additional 8 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Down 0.8 %

Shares of MELI traded down $13.83 on Friday, reaching $1,693.57. The stock had a trading volume of 375,675 shares, compared to its average volume of 446,208. The firm has a market capitalization of $85.86 billion, a price-to-earnings ratio of 75.77, a price-to-earnings-growth ratio of 1.25 and a beta of 1.45. The company has a 50-day simple moving average of $1,546.28 and a 200-day simple moving average of $1,587.03. MercadoLibre, Inc. has a 12-month low of $1,063.02 and a 12-month high of $1,825.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.27.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, beating analysts’ consensus estimates of $6.64 by $0.14. The firm had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $3.84 billion. MercadoLibre had a net margin of 7.17% and a return on equity of 39.46%. The company’s quarterly revenue was up 36.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.97 EPS. Sell-side analysts predict that MercadoLibre, Inc. will post 33.81 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MELI shares. Susquehanna upped their target price on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and upped their price objective for the company from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. Barclays boosted their target price on MercadoLibre from $1,800.00 to $2,000.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Wedbush restated an “outperform” rating and set a $1,800.00 price target on shares of MercadoLibre in a research report on Friday, May 3rd. Finally, DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price objective for the company in a research note on Tuesday, April 23rd. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,881.92.

MercadoLibre Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.